What is a Passbook?
A Passbook is a book of coupons valid for 1 eighteen-hole round of golf with cart and use of the practice facility on the day of play. Each coupon is transferable, so the Passbook owner does not necessarily need to be the redeemer. This makes a passbook attractive for individuals, regular foursomes, and companies.
Passbooks are simple paper books that include pages that are intended for use with simple accounting notations regarding a bank account. Sometimes referred to as a bank book, the passbook was considered to be the most common means of keeping up with the current balance in a savings account for many years. Because the design of the passbook allowed the record to fit easily into a lapel pocket or purse, taking the passbook along to the bank when making a deposit or withdrawal was an easy process. The format for the pages in a passbook is very simple. Columns are found on each page that provide space for entering the date and type of the transaction, the amount of the deposit or withdrawal, and the adjusted balance in the account. Any interest earned on the bank account would be recorded in the passbook as a credit to the account, while a withdrawal would be recorded as a debit. In times past, the account holder was not the one to make notations in the passbook. Instead, the customer woul
A passbook or bankbook is a paper book used to record bank transactions on a deposit account. Depending on the country or the financial institution, it can be of the dimensions of a chequebook or a passport. Traditionally, a passbook is used for accounts with a low transaction volume, such as a savings account. In the early days of banking, the bank teller would write, by hand, the date and amount of the transaction, the updated balance, and enter his or her initials. Today, a small dot matrix or inkjet printer updates the passbook at the account holder’s convenience, either at an automated teller machine or a passbook printer, either in a self-serve mode or in a branch. For people who feel uneasy with telephone or online banking, this is an alternative to obtain, in real-time, the account activity without waiting for a bank statement. However, contrary to the bank statement, the passbook offers fewer details, replacing easy-to-understand descriptions with short codes, also known as mn
